Broker Name:Moon Kim
Broker Email:info@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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Prime Location Full Service Dry Cleaning Plant
(Cleaning/Laundry Related)
Collin, Texas
Listed Price: $ 149,000
Listing ID: 000960

Listing DetailsDown Payment: $ 75,000
Gross Revenue: $ 234,011
Cash Flow: $ 54,558
FFE: $ 120,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

The owner went back to corporate world.


Training & Support:

Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

Over 23-year established full service dry cleaning plant in prime location of North Dallas is now available for acquisition. This business was established 23 years ago by the previous owner in 1997 and was acquired by the current owner in 2016. This full service dry cleaning plant is located in a 2,800 SF space of retail strip center that is anchored by nationwide grocery chain surrounded by enormous presence of retail stores with tremendous foot traffics. The intersection that the business is located is known for the prime spot of this area with high traffics. The customers consist of a wide range of demographics with middle to upper-class individuals coming from the surrounding densely populated residential neighborhoods. Few competitors are found in the immediate market area, but this business is optimally placed right next to busy intersection, and facade of this business is raised than other tenants within the center which makes visibility superior. This business has a solid customer base that has been accumulated in the last 23 years of operation by providing high quality services at a very low price point than any other competitors in the immediate market area. Gross sales of this dry cleaning plant have been consistent for the last several years running at around $230,000-255,000 per year due to its prime location and a solid customer base. Currently, minimal to none marketing is in place, and pro-active marketing is needed to be fully utilized to achieve maximum income potential. There are many ways to increase overall sales by offering pick-up/drop-off services, taking in more household items, reaching out to local school districts for faculty discount, band uniforms, churches, and offering wholesale services to other pick-up stations. Even more various marketing tactics can be utilized, such as online and social media outlet presence, direct marketing, coupons, and weekly deals to acquire new customers in the untapped parts of the area. This business can be more profitable if this plant is converted into a pick-up station by a buyer who already has dry cleaning plant because in result all the labor cost in the production line will drastically reduced. Also, reconsideration of pricing has to be made to generate more profit as current pricing is way lower than the market. This dry cleaning plant offers full service dry cleaning and laundry services as well as alteration, leather and wedding gown cleaning in which all of the work is done on the premises at the plant. This is a great opportunity to acquire a 23-year well-established full service dry cleaning plant for potential buyer who is willing to be more hands-on in the day to day operation and proactive marketing to reach out to untapped areas of the city.


Competition:

Few competitors were found within the immediate market area, this business is optimally placed next to busy intersection of a city and easy to access with great visibility than other competitors.


Potential Growth:

There is currently no single pro-active marketing being done, and the business needs a full scale of marketing which includes online and offline marketing to expose itself to public and local customers. This business is ideal for plant owner who can convert this into a pick-up station.


Financing/Terms:

100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.


LocationSquare Footage: 2800
Facilities:

This business in a 2,800 SF is located next to an intersection surrounded by many national retailers with tremendous traffic and nearby densely populated residential area. The intersection is known as the prime spot that has an enormous presence of grocery, retailers and restaurants. Equipment is relatively old but well-maintained in good working condition while the business needs some cosmetic updates.


OperationYear Established: 1997
Employees: 3FT/1PT
Absentee Owner: No